Balance Sheet




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MERKEZ SİGORTA A.Ş.
BALANCE SHEETS FOR THE YEARS ENDED 30.09.1999 , 31.12.1998 , 31.12.1997 , 31.12.1996 AND 31.12.1995
(Currency in US Dollars)
                     
ASSETS   1995   1996   1997   1998   1999
                     
I. LIQUID ASSETS   1.308.470   3.225.155   2.911.361   56.558   38.279
    A. Liquid Assets   101.770   45.588   15.660   10.141   19.004
    B. Banks   1.206.700   3.179.567   2.895.701   46.417   19.275
II.MARKETABLE SECURITIES   4.538.408   4.911.695   5.142.805   7.999.003   9.178.951
    A. Marketable Securities   4.538.408   4.911.695   5.142.805   8.133.041   9.178.951
    B. Provision for Marketable Securities' Loss (-)               (134.038)    
III. RECEIVABLES   6.786.817   2.390.551   2.692.070   2.516.239   2.234.505
    A. Insured Clients   902.645   431.420   567.066   588.177   510.106
        a. Insured Clients   902.645   431.420   567.066   588.177   510.106
        b. Provision for the Premium Receivables (-)                    
    B. Agencies   6.108.023   1.860.193   1.838.115   1.785.989   1.564.315
        a. Agencies   6.470.151   2.501.476   1.983.661   1.836.822   1.625.723
        b. Provision for the Premium Receivables (-)   (362.128)   (641.283)   (145.546)   (50.833)   (61.408)
    C. Insurance and Reinsurance Companies   20.875   15.919   (4.636)   27.156   23.041
    D. Reserves at Cedant and Retrocedant Companies   5.658   16.393   23.916   30.748   28.570
    E. Other Receivables   (250.383)   66.626   267.610   84.170   108.473
    F. Doubtful Receivables       911.694   475.001   252.483   139.328
    G. Provision for Doubtful Receivables (-)       (911.694)   (475.001)   (252.483)   (139.328)
IV.PARTICIPATIONS                    
    A. Participations                    
    B. Provision for Participation Value Loss (-)                    
V.FIXED ASSETS   727.131   685.876   462.624   390.935   310.578
    A. Movable Assets   444.379   364.996   253.750   172.518   117.217
        a. Movable Assets   918.347   925.660   768.041   754.386   623.932
        b. Accumulated Deprecations (-)   (473.968)   (560.664)   (514.291)   (581.868)   (506.716)
    B. Immovable Assets   118.124   235.080   176.345   205.051   189.270
        a. Immovable Assets   122.845   245.261   183.919   214.105   197.714
        b. Accumulated Deprecations (-)   (4.721)   (10.181)   (7.574)   (9.054)   (8.444)
    C. Special Costs   164.628   85.800   32.529   13.366   4.091
        a. Special Costs   202.628   133.541   71.994   49.007   33.332
        b. Accumulated Deprecations (-)   (38.000)   (47.741)   (39.465)   (35.641)   (29.241)
VI.OTHER CURRENT ASSETS (NET)   469.045   44.425            
TOTAL ASSETS   13.829.871   11.257.702   11.208.860   10.962.735   11.762.313

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